POPULATION: 19,306,183 (July 1, 2006)
LABOR FORCE: 9,499,000 (2006 annual average)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Manufacturing, transportation, agriculture, tourism
EXPANDING INDUSTRIES: Biomedical/biotech; green/clean tech; business and financial services; communications and media services; distribution; fashion, apparel, and textiles; food processing; industrial machinery and systems; information hardware and software; materials processing; optics and imaging; transportation equipment; travel and tourism; wood products
COLLEGE GRADUATES: (Age 25 and over) 31.3% (2005)
BASIC BUSINESS TAXES:
Corporate Income Tax: Principal tax is the greater of 7.1 percent (6.5% for qualified New York manufacturers) of allocated net income; or 1.78 mills per dollar of investment capital allocated to New York; or 1.5 percent on the alternative minimum taxable base; or a minimum flat rate ranging from $100 to $1,500, depending on gross payroll and gross assets
Sales and Use Tax: The state rate is 4 percent of receipts from retail sales; in New York City and the communities in the Metropolitan Commuter Transportation District, the tax is 4.375 percent; some counties and municipalities may impose additional sales and use taxes ranging from 1 to 5 percent, with exemptions
Property Tax: Based on full value of real property including special franchises; equalization rate in each locality is determined by the State Office of Real Property Services; personal property is not taxed
BUSINESS INCENTIVES:
Empire Zones
Direct Loans and/or Grants
Interest Rate Subsidies
Loans and Grants for Working Capital Assistance
Energy Cost Savings
Foreign-Trade Zones
Infrastructure Assistance